Form 4: Saba Capital Sells Shares in Eaton Vance California Municipal Income Trust
SEC Form 4
Saba Capital Management, a 10% owner and director in Eaton Vance California Municipal Income Trust, disposed of 31,551 shares of common stock at a price of $10.81 per share on October 21, 2024.
Summary
- On October 21, 2024, Saba Capital Management, L.P., a 10% owner and director of Eaton Vance California Municipal Income Trust (CEV), sold 31,551 shares of common stock.
- The transaction was executed at a price of $10.81 per share.
- Following the transaction, Saba Capital Management, L.P. indirectly beneficially owns 694,818 shares of CEV.
Sentiment
Score: 5
Explanation: Neutral sentiment as it's a standard disclosure of share disposal. The impact on the company is likely minimal unless this is part of a larger trend.
Negatives
- Saba Capital Management reduced its holdings in Eaton Vance California Municipal Income Trust.
Industry Context
This transaction is a routine disclosure of insider trading activity. It is common for large shareholders like Saba Capital to adjust their positions in investment trusts.
Key Dates
| Date | Description |
|---|---|
| 10/21/2024 | Date of transaction: Saba Capital Management disposed of shares. |
| 10/22/2024 | Date of signature for the Form 4 filing. |
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